News
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Scammers reportedly steal money through InstaPay
Some fraudsters have begun exploiting the feature to scam victims out of their money.
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Egypt to offer state-owned ChillOut fuel stations under IPO programme
Egypt is ramping up restructuring efforts with the sale of ChillOut fuel stations to the private sector as part of the country's IPO programme.
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Naguib plans to invest over USD 120 mn to turn motorcycles and three-wheeled tuk-tuks into EVs
Sawiris’ plan will be carried out through e-mobility startup BluEVunder an investment agreement signed with Orascom Investment Holding (OIH).
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British International Investment portfolio in Egypt hits $600m: Sherine Shohdy to DNE
She highlighted the country’s promising investment climate and the corporation’s ongoing support for Egyptian businesses.
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Egypt, AUDA to establish the African Center of Excellence for Climate Resilience
The agreement signed by the Minister of Environment, Yasmine Fouad, and the CEO of AUDA-NEPAD, Nardos Bekele.
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China’s Befar wants to build USD 2 bn chemicals production complex in Egypt
The first phase of the project is expected to cost USD 500 mn and will be powered by solar and wind energy.
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Services account for nearly 60% of Egypt’s FDI inflows in FY2022/2023: CBE
The services sector was the top recipient of foreign direct investments (FDI) in Egypt during the fiscal year (FY) 2022/2023, recording $5.94 billion.
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Scatec to set up Egypt’s first hybrid solar + battery plant
Norwegian renewables developer Scatec will establish a 1-GW solar and 200-MWh battery storage project in Egypt .
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SAK Developments executes 3 projects in New Capital
Kadri said that the company has completed the excavation and replacement operations for The V Hub Mall.
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Shell Egypt appoints Dalia El Gabry as new vice president, country chair
El Gabry has a rich and diverse experience of 28 years at Shell, spanning various businesses and functions.
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Egypt signs agreements for three green energy projects at COP28
The agreements were signed on the sidelines of the 2023 United Nations Climate Change Conference (COP28) in Dubai.
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What the government is doing to boost Egypt’s marble + granite industry
The broad majority of the marble + granite industry is concentrated in the Shaq El Tebaan in Maadi’s Tora area, east of the Autostrad road.
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Egypt’s external debt recorded $164.7bn end of June rising 5.8% Y-o-Y: CBE
Long-term debt accounted for $136.6bn, whereas short-term debt accounted for $28.1bn.
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Gov't Reviewes Green Ammonia Project with Investments of $1 bn
PM Mostafa Madbouly reviewed the features of the project presented by Benchmark Power International to produce green ammonia in the Gulf of Suez.
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Egypt's $3 billion loan programme to advance soon: IMF managing director
The International Monetary Fund (IMF) is on the verge of advancing with the next steps in Egypt's $3 billion loan programme shortly.
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Egypt readies to open up ‘Club One’ – its first smart sports club
The club aims to provide a unique smart sports experience to its members and is a major step forward for the sports sector in Egypt.
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Egypt plans to export 1B cubic feet of LNG daily in January
A source familiar with the matter said that Egypt’s imports of Israeli natural gas have resumed to its pre-war levels at 850 million cubic feet a day.
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Egyptian engineering exports surge 8.5% to $3.5bn in 10M 2023
The EECE’s monthly report highlighted that engineering exports in October 2023 alone achieved a remarkable 22% growth.
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'Be patient, sugar crisis to be solved mid-December': Egypt's supply minister
Egypt's Minister of Supply and Internal Trade Ali Moselhi urged citizens to not buy kilograms of sugar for more than EGP 27.
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Dollar rate in Egypt’s black market sees sudden, significant decline
During November, the dollar recorded successive jumps in black market transactions, reaching 52 pounds due to a sudden increase in demand.